ETHUSD short term target: 190, rebound should reach 220.
Under 240 there are risks to break on the downside 177, low of end july.
If we repeat under 177 the max drawdown of 66% of june-july (400-135), we obtain a target of 60 ETHUSD.
A level of 60 ETHUSD match
- about a 50% correction on a log scale
- the highest level of march of ETHUSD and ETHBTC (blue line)
ETHBTC is also in downtrend with a target corresponding to the highest level of march.
Under 240 there are risks to break on the downside 177, low of end july.
If we repeat under 177 the max drawdown of 66% of june-july (400-135), we obtain a target of 60 ETHUSD.
A level of 60 ETHUSD match
- about a 50% correction on a log scale
- the highest level of march of ETHUSD and ETHBTC (blue line)
ETHBTC is also in downtrend with a target corresponding to the highest level of march.